UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q
(Mark One)
[X]  QUARTERLY  REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES  EXCHANGE ACT
     OF 1934

     For the quarterly period ended March 31, 2003

     OR

[ ]  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

     For the transition period from ______ to ______

                         Commission File Number: 0-24589

                               BCSB BANKCORP, INC.
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


          UNITED STATES                                        52-2108333
--------------------------------                          ---------------------
(State or Other Jurisdiction of                             (I.R.S. Employer
 Incorporation or Organization)                            Identification No.)

            4111 E. JOPPA ROAD, SUITE 300, BALTIMORE, MARYLAND 21236
            ---------------------------------------------------------
                    (Address of Principal Executive Offices)

                                 (410) 256-5000
                 -----------------------------------------------
                 Issuer's Telephone Number, Including Area Code)

                                       N/A
              ----------------------------------------------------
              (Former Name, Former Address and Former Fiscal Year,
                          if Changed Since Last Report)

Indicate by check |X| whether the registrant: (1) has filed all reports required
to be filed by Section  13 or 15(d) of the  Securities  Exchange  Act during the
preceding 12 months (or for such shorter period that the registrant was required
to file such reports),  and (2) has been subject to such filing requirements for
the past 90 days.
Yes  X    No
    ---      ---

Indicate by check mark |X| whether the  registrant is an  accelerated  filer (as
defined in Rule 12b-2 of the Exchange Act).
Yes      No   X
   ---       ---

     As of April 30,  2003,  the issuer  had  5,874,082  shares of Common  Stock
issued and outstanding.

<PAGE>
                                    CONTENTS

                                                                            PAGE
                                                                            ----
PART I.  FINANCIAL INFORMATION
         ---------------------

Item 1.  Financial Statements

         Consolidated Statements of Financial Condition as of
                  March 31, 2003 (unaudited) and September 30, 2002............2

         Consolidated Statements of Operations for the Six Months and
                  Three Months Ended March 31, 2003 and 2002
                  (unaudited)..................................................3

         Consolidated Statement of Comprehensive Income for the Six
                  Months and Three Months Ended March 31, 2003 and
                  2002 (unaudited)............................................ 4

         Consolidated Statements of Cash Flows for the Six Months
                  Ended March 31, 2003 and 2002 (unaudited)................... 5

     Notes to Consolidated Financial Statements................................8

Item 2.  Management's Discussion and Analysis of Financial Condition
                  and Results of Operation....................................11

Item 3.  Quantitative and Qualitative Disclosures About Market Risk...........23

Item 4.  Controls and Procedures..............................................23


PART II.  OTHER INFORMATION
          -----------------

Item 1.  Legal Proceedings....................................................24

Item 2.  Changes in Securities and Use of Proceeds............................24

Item 3.  Defaults Upon Senior Securities......................................24

Item 4.  Submission of Matters to a Vote of Security Holders..................24

Item 5.  Other Information....................................................24

Item 6.  Exhibits and Reports on Form 8-K.....................................24


SIGNATURES....................................................................25

CERTIFICATIONS................................................................26


                                       1
<PAGE>
                      BCSB BANKCORP, INC. AND SUBSIDIARIES
                      ------------------------------------
                               BALTIMORE, MARYLAND

                 CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
                 ----------------------------------------------
<TABLE>
<CAPTION>
                                                                            MARCH  31,        SEPTEMBER 30,
                                                                              2003                2002
                                                                         --------------      --------------
                                                                           (Unaudited)
<S>                                                                      <C>                 <C>
                                      Assets
                                      ------
Cash                                                                     $    7,518,668      $    6,467,598
Interest bearing deposits in other banks                                      2,307,003          15,808,342
Federal funds sold                                                           11,946,394           3,527,387
Investment securities, held to maturity                                       2,000,000           4,495,986
Investment securities, available for sale                                   100,983,109          45,083,287
Loans receivable, net                                                       381,177,117         396,616,729
Loans held for sale                                                             729,300                  --
Mortgage backed securities, held to maturity                                 23,190,631          33,691,430
Mortgage backed securities, available for sale                               78,130,452          60,411,132
Premises and equipment, net                                                   8,717,180           8,630,812
Federal Home Loan Bank of Atlanta stock                                       3,670,300           3,939,700
Accrued interest receivable                                                   1,956,438           2,190,458
Prepaid and deferred income taxes                                             1,249,217           1,268,370
Goodwill                                                                      2,294,327           2,294,327
Core deposit intangible                                                         458,000             542,000
Other assets                                                                  2,096,352           2,097,791
                                                                         --------------      --------------
Total assets                                                             $  628,424,488      $  587,065,349
                                                                         ==============      ==============
                Liabilities and Stockholders' Equity
                ------------------------------------
Liabilities
-----------
  Checks outstanding in excess of bank balance                           $           --             390,799
  Deposits                                                                  540,994,759         498,785,268
  Advances from the Federal Home Loan Bank of Atlanta                        25,868,700          26,968,099
  Trust Preferred Securities                                                 12,500,000          12,500,000
  Advance payments by borrowers for taxes and insurance                       2,030,678           1,194,371
  Income taxes payable                                                          143,452              58,226
  Dividends payable                                                             264,891             264,891
  Other liabilities                                                             737,111           1,598,132
                                                                         --------------      --------------
Total liabilities                                                           582,539,591         541,759,786

Commitments and contingencies
Stockholders' Equity
--------------------
  Common stock (Par value $.01 - 13,500,000 authorized,
    5,874,082 issued and outstanding at March 31, 2003
    and September 30, 2002 )                                                     58,741              58,741
  Additional paid-in capital                                                 20,329,455          20,302,518
  Obligation under Rabbi Trust                                                1,176,520           1,156,870
  Retained earnings (substantially restricted)                               25,992,115          25,279,752
  Accumulated Other Comperhensive Income (net of taxes)                         393,474             664,554
  Employee Stock Ownership Plan                                                (868,908)           (960,372)
  Stock held by Rabbi Trust                                                  (1,196,500)         (1,196,500)
                                                                         ---------------     ---------------
  Total Stockholders' Equity                                                 45,884,897          45,305,563
                                                                         --------------      --------------
Total liabilities and Stockholders' Equity                               $  628,424,488      $  587,065,349
                                                                         ==============      ==============
</TABLE>
The accompanying notes to the consolidated financial statements are an integral
part of these statements.

                                       2
<PAGE>
                      BCSB BANKCORP, INC. AND SUBSIDIARIES
                      ------------------------------------
                               BALTIMORE, MARYLAND

                CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
                -------------------------------------------------
<TABLE>
<CAPTION>
                                                       FOR SIX  MONTHS ENDED         FOR THREE MONTHS ENDED
                                                              MARCH  31,                     MARCH  31,
                                                    ---------------------------    ---------------------------
                                                        2003            2002            2003           2002
                                                    ------------   ------------    ------------   ------------
<S>                                                  <C>           <C>             <C>            <C>
Interest Income
---------------
  Interest and fees on loans                         $13,916,798   $ 10,118,695    $  6,909,015   $  5,014,499
  Interest on mortgage backed securities               2,065,369      1,651,973       1,009,590        825,760
  Interest and dividends on investment securities      1,177,629      1,403,068         650,348        729,996
  Other interest income                                  176,609        105,429          85,463         46,354
                                                    ------------   ------------    ------------   ------------
Total interest income                                 17,336,405     13,279,165       8,654,416      6,616,609

Interest Expense
----------------
  Interest on deposits                                 7,240,322      7,033,929       3,564,559      3,404,255
  Interest on borrowings - short term                    110,654        319,015          53,679        123,592
  Interest on borrowings-long term                       539,617             --         264,844             --
  Other Interest Expense                                 340,434          1,000         161,708             --
                                                    ------------   ------------    ------------   ------------
Total interest expense                                 8,231,027      7,353,944       4,044,790      3,527,847
                                                    ------------   ------------    ------------   ------------

  Net interest income                                  9,105,378      5,925,221       4,609,626      3,088,762
  Provision for losses on loans                          412,365         69,370         130,367          5,508
                                                    ------------   ------------    ------------   ------------
  Net interest income after provision
  for losses on loans                                  8,693,013      5,855,851       4,479,259      3,083,254

Other Income
------------
  Gain on Sale of Loans                                  271,358        109,458         204,373         91,193
  (Reversal of)/Provision for Losses on
    Loans held for sale                                       --        (10,761)             --         37,060
  Servicing fee income                                     5,843          9,464           5,840          5,705
  Fees and charges on loans                              112,328         86,174          61,583         45,810
  Fees on transaction accounts                           246,207        191,598         116,917        103,611
  Rental income                                           60,322         51,259          23,275         27,529
  Gain from sale of investments                           25,000         17,510            --           17,510
  Gain on sale of Mortgage Backed Securities             153,610          1,076          83,600          1,076
  Miscellaneous income                                    77,142          5,244          30,468        (15,241)
                                                    ------------   ------------    ------------   ------------
  Net other income                                       951,810        461,022         526,056        314,253
Non-Interest Expenses
---------------------
Salaries and related expense                           4,096,378      2,798,727       1,958,787      1,422,676
Occupancy expense                                        785,110        607,399         390,127        310,238
Deposit insurance premiums                               100,815         76,615          51,197         43,082
Data processing expense                                  804,489        449,367         392,898        218,295
Property and equipment expense                           632,678        472,978         322,170        248,849
Professional fees                                        137,046         97,917          78,870         53,000
Advertising                                              421,383        476,445         193,619        208,428
Telephone, postage and office supplies                   324,768        224,569         170,118        122,159
Other expenses                                           352,254        225,400         189,354         83,977
                                                    ------------   ------------    ------------   ------------
Total non-interest expenses                            7,654,921      5,429,417       3,747,140      2,710,704
                                                    ------------   ------------    ------------   ------------
Income before tax provision                            1,989,902        887,456       1,258,175        686,813
Income tax provision                                     758,810        343,939         479,592        266,472
                                                    ------------   ------------    ------------   ------------
Net income                                          $  1,231,092   $    543,517    $    778,583   $    420,341
                                                    ============   ============    ============   ============
Basic earnings per share                            $        .22   $        .10    $        .14   $        .08
                                                    ============   ============    ============   ============
Diluted earnings per share                          $        .21   $        .10    $        .14   $        .07
                                                    ============   ============    ============   ============
</TABLE>
The accompanying notes to the consolidated  financial statements are an integral
part of these statements
                                       3
<PAGE>
                      BCSB BANKCORP, INC. AND SUBSIDIARIES
                      ------------------------------------
                               BALTIMORE, MARYLAND
                               -------------------

                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                 -----------------------------------------------
                                   (UNAUDITED)
                                   -----------
<TABLE>
<CAPTION>
                                                        FOR SIX MONTHS ENDED
                                                             MARCH 31,
                                                   ----------------------------
                                                       2003             2002
                                                       ----             ----
<S>                                                <C>              <C>
Net Income                                         $ 1,231,092      $   543,517
Other comprehensive income, net of tax:
 Unrealized net holding (losses) on
  available-for-sale portfolios                       (161,449)        (731,994)
Reclassification adjustment for gains
  included in net income, net of tax                  (109,631)         (11,408)
                                                   -----------      -----------

Comprehensive income and  (loss)                   $   960,012      $  (199,885)
                                                   ===========      ===========
<CAPTION>
                                                      FOR THREE MONTHS ENDED
                                                             MARCH 31,
                                                   ----------------------------
                                                       2003             2002
                                                       ----             ----

<S>                                                <C>              <C>
Net Income                                            $ 778,583       $ 420,341
Other comprehensive income, net of tax:
 Unrealized net holding gains on
  available-for-sale portfolios                         128,912         433,965
Reclassification adjustment for gains
  included in net income, net of tax                    (51,314)        (11,408)
                                                      ---------       ---------

Comprehensive income                                  $ 856,181       $ 842,898
                                                      =========       =========
</TABLE>

See accompanying notes to financial statements.

                                       4
<PAGE>
                      BCSB BANKCORP, INC. AND SUBSIDIARIES
                      ------------------------------------
                               BALTIMORE, MARYLAND
                               -------------------

                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
                --------------------------------------------------
<TABLE>
<CAPTION>
                                                                                 FOR SIX MONTHS ENDED
                                                                                       MARCH 31,
                                                                           -------------------------------
                                                                               2003               2002
                                                                           ------------        -----------
<S>                                                                        <C>                 <C>
Operating Activities
--------------------
   Net Income                                                              $ 1,231,092         $   543,517
  Adjustments to Reconcile Net Income to Net
  Cash Used by Operating Activities
  ---------------------------------
    Accretion of discount on investments                                       (19,912)             (4,080)
    Dividends on Investment Securities                                        (440,103)           (426,154)
    Gain on sale of investments                                                (25,000)            (17,510)
    Loans originated for sale                                               (8,682,343)         (7,459,655)
    Loans sold                                                               8,224,401           6,773,410
    Gain on sale of loans                                                     (271,358)           (109,458)
    Loan fees and costs deferred, net                                          135,692              99,615
    Amortization of deferred loan cost, net                                   (318,313)           (102,918)
    Provision for losses on loans                                              412,365              69,370
    Provision for loss on loans held for sale                                       --              10,761
    Non-cash compensation under Stock-Based Benefit Plan                       118,401              90,565
    Amortization of premium on mortgage backed securities                      266,160             102,935
    Amortization of purchase premiums and discounts, net                      (413,873)                 --
    Gain on sale of mortgaged backed securities                               (153,610)             (1,076)
    Provision for depreciation                                                 486,220             411,095
    Decrease in accrued interest receivable                                    234,020             129,469
    Decrease (increase) in prepaid income taxes                                188,079             (73,700)
    Decrease (increase) in other assets                                          1,439            (146,939)
    Decrease in accrued interest payable on deposits                           (24,505)            (54,317)
    Increase in income taxes payable                                            85,226              36,591
    Decrease in other liabilities and payables to
          disbursing agents                                                   (861,021)           (110,471)
    Increase in obligation under Rabbi-Trust                                    19,650                  --
                                                                           -----------         -----------
        Net cash provided (used) by operating activities                       192,707            (238,950)
</TABLE>

                                       5
<PAGE>
                      BCSB BANKCORP, INC. AND SUBSIDIARIES
                      ------------------------------------
                               BALTIMORE, MARYLAND
                               -------------------

                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
                -------------------------------------------------
<TABLE>
<CAPTION>
                                                                                 FOR SIX MONTHS ENDED
                                                                                      MARCH  31,
                                                                            --------------------------------
                                                                                2003                2002
                                                                            -----------        ------------
<S>                                                                        <C>                 <C>
Cash Flows from Investing Activities
------------------------------------
    Proceeds from maturing interest bearing deposits                       $          --       $   2,154,000
    Purchases of investment securities - available for sale                  (86,604,364)        (38,387,242)
    Proceeds from maturities of investment securities - available for sale    30,140,019           2,000,000
    Proceeds from sale of investment securities- available for sale            1,025,000           5,013,875
    Purchases of investment securities - held to maturity                             --            (500,000)
    Proceeds from maturities of investment securities - held to maturity       2,500,000           8,000,000
    Longer term loans originated                                             (27,819,364)        (25,778,983)
    Principal collected on longer term loans                                  49,493,963          25,069,140
    Net increase in short-term loans                                          (6,723,516)         (2,289,075)
    Principal collected on mortgage backed securities - available for sale    12,227,065           6,889,484
    Purchase of mortgage backed securities - available for sale              (44,398,220)        (31,832,464)
    Proceeds from sale of mortgaged backed securities- available for sale     13,962,697           2,697,603
    Purchase of mortgage backed securities- held to maturity                          --          (1,686,487)
    Principal collected on mortgage backed securities - held to maturity      10,379,048           7,678,182
    Proceeds from sales of foreclosed realestate                                      --              80,569
    Purchase of WHG Bankcorp stock                                                    --            (819,936)
    Investment in premises and equipment                                        (572,588)           (252,554)
    Purchase of Federal Home Loan Bank of Atlanta stock                               --            (655,300)
    Proceeds from sale if Federal Home Loan Bank of Atlanta stock                269,400                  --
                                                                            ------------       -------------
        Net cash used by investing activities                                (46,120,860)        (42,619,370)

Cash Flows from Financing Activities
------------------------------------
Decrease in checks written in excess of bank balance                            (390,799)                 --
Net increase in demand deposits, money market, passbook
      accounts and advances by borrowers for taxes and
      insurance                                                               17,744,654          15,703,672
    Net increase  in certificates of deposit                                  26,061,765          28,629,960
    Increase in Federal Home Loan Bank of Atlanta advances                            --           4,750,000
    Repayment of Federal Home Loan Bank of Atlanta advances                   (1,000,000)         (6,750,000)
    Acquisition of stock for Rabbi Trust                                              --             (57,000)
    Increase in Dividends Payable                                                     --                   1
    Dividends paid on stock                                                     (518,729)           (528,092)
                                                                           -------------       -------------
        Net cash provided by financing activities                             41,896,891          41,748,541
                                                                           -------------       -------------

Increase) in cash and cash equivalents                                        (4,031,262)         (1,109,779)
Cash and cash equivalents at beginning of period                              25,703,327          12,968,998
                                                                           -------------       -------------
Cash and cash equivalents at end of period                                 $  21,672,065       $  11,859,219
                                                                           =============       =============
</TABLE>

                                       6
<PAGE>
                      BCSB BANKCORP, INC. AND SUBSIDIARIES
                      ------------------------------------
                               BALTIMORE, MARYLAND
                               -------------------

                CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
                -------------------------------------------------
<TABLE>
<CAPTION>
                                                                                  FOR SIX MONTH PERIOD
                                                                                      ENDED MARCH 31,
                                                                           ---------------------------------
                                                                               2003                 2002
                                                                           -----------          -----------
<S>                                                                        <C>                 <C>
The following is a summary of cash and cash equivalents:
    Cash                                                                   $   7,518,668       $   3,186,869
    Interest bearing deposits in other banks                                   2,307,003           6,521,935
    Federal funds sold                                                        11,946,394           2,349,415
                                                                           -------------       -------------
    Balance of cash items reflected on Statement of
      Financial Condition                                                     21,772,065          12,058,219
        Less - certificate of deposit with a maturity of
          more than Six months                                                   100,000             199,000
                                                                           -------------       -------------

Cash and cash equivalents reflected on the
    Statement of Cash Flows                                                $  21,672,065       $  11,859,219
                                                                           =============       =============

Supplemental Disclosures of Cash Flows Information:
    Cash paid during the period for:

    Interest                                                               $   8,286,557       $   7,496,391
                                                                           =============       =============

    Income taxes                                                           $     826,700       $     345,400
                                                                           =============       =============
</TABLE>
The accompanying notes to the consolidated  financial statements are an integral
part of these statements.

                                       7
<PAGE>
                      BCSB BANKCORP, INC. AND SUBSIDIARIES
                      ------------------------------------
                               BALTIMORE, MARYLAND
                               -------------------

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
             ------------------------------------------------------

Note 1 -  Principals of Consolidation
          ---------------------------

          BCSB Bankcorp, Inc. (the "Company") owns 100% of BCSB Bankcorp Capital
          Trust I and Baltimore  County Savings Bank,  F.S.B.  and  subsidiaries
          (the "Bank") and also invests in federal funds sold,  interest-bearing
          deposits in other banks and U.S.  Agency bonds.  The Bank owns 100% of
          Baltimore  County  Service  Corporation  and Ebenezer  Road,  Inc. The
          accompanying  consolidated  financial  statements include the accounts
          and transactions of these companies on a consolidated  basis since the
          date  of  acquisition.   All  intercompany   transactions   have  been
          eliminated in the consolidated  financial  statements.  Ebenezer Road,
          Inc. sells insurance products.

Note 2 -  Basis for Financial Statement Presentation
          ------------------------------------------

          The accompanying  consolidated financial statements have been prepared
          in accordance with  accounting  principles  generally  accepted in the
          United  States  of  America  and  the   instructions   to  Form  10-Q.
          Accordingly,  they do not include all of the  disclosures  required by
          accounting  principles  generally  accepted  in the  United  States of
          America  for  complete  financial   statements.   In  the  opinion  of
          management,  all  adjustments  (none of which were  other than  normal
          recurring accruals) necessary for a fair presentation of the financial
          position and results of operations for the periods presented have been
          included.  The financial  statements of the Company are presented on a
          consolidated  basis with those of the Bank.  The  results  for the six
          months  ended March 31,  2003 are not  necessarily  indicative  of the
          results  of  operations  that  may be  expected  for  the  year  ended
          September 30, 2003. The consolidated  financial  statements  should be
          read in conjunction  with the  consolidated  financial  statements and
          related  notes which are  incorporated  by reference in the  Company's
          Annual Report on Form 10-KSB for the year ended September 30, 2002.

Note 3 -  Cash Flow Presentation
          ----------------------

          For  purposes  of  the  statements  of  cash  flows,   cash  and  cash
          equivalents include cash and amounts due from depository institutions,
          investments  in  federal  funds,  and  certificates  of  deposit  with
          original maturities of 90 days or less.

Note 4-   Pro-Forma Income
          ----------------

          Merger  Agreement  - On  July  24,  2002,  the  Company  acquired  WHG
          Bancshares Corporation, the holding company for Heritage Savings Bank,
          a federally  chartered savings bank.  Holders of outstanding shares of
          WHG Bancshares received $14.25 in cash.

          The  combination  was  accounted  for  under  the  purchase  method of
          accounting,  and  accordingly,  the net assets were  recorded at their
          estimated fair values at the date of  acquisition,  July 24, 2002. The
          Company  recorded net premiums of $2,779,968 on assets and  $2,981,701
          on  liabilities.  A core  deposit  intangible  of  $630,000  was  also
          recorded.  Fair  value  adjustments  on  the  assets  and  liabilities
          purchased are being  amortized over the estimated lives of the related
          assets  and  liabilities.  The  excess  of  purchase  price  over  the
          estimated  fair value of the  underlying  net assets of $2,294,327 was
          allocated  to  goodwill.  Goodwill is assessed  for  impairment  on an
          annual basis.

          The following  unaudited pro forma  condensed  consolidated  financial
          information  reflects the results of operations of the Company for the
          six months ended March 31, 2002 as if the  transaction had occurred at
          the beginning of the period presented. These pro forma results are not
          necessarily  indicative  of what the  Company's  results of operations
          would  have  been  had the  acquisition  actually  taken  place at the
          beginning of each period presented.

                                       8
<PAGE>
                      BCSB BANKCORP, INC. AND SUBSIDIARIES
                      ------------------------------------
                               BALTIMORE, MARYLAND
                               -------------------

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
             ------------------------------------------------------

Note 4-   Pro-Forma Income (Continued)
          ----------------

                                              For the six months ended
                                              ------------------------
                                                  March 31, 2002
                                                  --------------=

         Net Interest Income                       $8,077,853
         Net Income                                   846,878
         Diluted net income per share                    0.14


Note 5 -  Earnings Per Share
          ------------------

          Basic per share  amounts are based on the weighted  average  shares of
          common  stock  outstanding.  Diluted  earnings  per share  assume  the
          conversion,  exercise  or  issuance  of  all  potential  common  stock
          instruments  such as options,  warrants  and  convertible  securities,
          unless the effect is to reduce a loss or increase  earnings per share.
          No  adjustments  were made to net income  (numerator)  for all periods
          presented.  The basic and diluted weighted average shares  outstanding
          for the six and three months ended March 31, 2003 is as follows:
<TABLE>
<CAPTION>
                                                                For the Six Months Ended March 31, 2003
                                                              ------------------------------------------
                                                                Income            Shares       Per Share
         Basic EPS                                            (Numerator)      (Denominator)     Amount
         ---------                                            -----------      -------------   ---------
         <S>                                                  <C>                <C>            <C>
         Income available to shareholders                     $ 1,231,092        5,720,840      $   0.22

         Effect of dilutive shares                                     --           37,954            --
                                                              -----------       ----------      --------
         Diluted EPS
         -----------

         Income available to common stockholders
             plus assumed conversions                         $  1,231,092       5,758,794      $   0.21
                                                              ============      ==========      ========

<CAPTION>
                                                              For the Three Months Ended March 31, 2003
                                                              ------------------------------------------
                                                                Income            Shares       Per Share
         Basic EPS                                            (Numerator)      (Denominator)     Amount
         ---------                                            -----------      -------------   ---------
         <S>                                                  <C>                <C>            <C>
         Income available to shareholders                     $   778,583        5,723,152       $  0.14

         Effect of dilutive shares                                     --           42,168            --
                                                              -----------       ----------       -------
         Diluted EPS
         -----------

         Income available to common stockholders
             plus assumed conversions                         $   778,583       $5,765,320       $  0.14
                                                              ===========       ==========       =======
</TABLE>

                                       9
<PAGE>
                      BCSB BANKCORP, INC. AND SUBSIDIARIES
                      ------------------------------------
                               BALTIMORE, MARYLAND
                               -------------------

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
             ------------------------------------------------------

Note 6 - Regulatory Capital
         ------------------

          The following  table sets forth the Bank's  capital  position at March
          31, 2003.
<TABLE>
<CAPTION>
                                                                                              To Be Well
                                                                                           Capitalized Under
                                                                   For Capital             Prompt Corrective
                                            Actual               Adequacy Purposes          Action Provision
                                    -----------------------   -----------------------   ----------------------
                                    Actual           % of     Required       % of       Required        % of
                                    Amount           Assets    Amount        Assets      Amount         Assets
                                    ------           ------   --------       ------     --------        ------
                                                                          (unaudited)
<S>                                <C>               <C>     <C>               <C>      <C>            <C>
Tangible (1)                       $ 46,621,466       7.53%  $ 9,286,026       1.50%       N/A            N/A
Tier 1 capital (2)                   46,621,466      13.40          N/A        N/A      20,874,412       6.00%
Core (1)                             46,621,466       7.53    24,762,736       4.00     30,953,420       5.00
Risk-weighted (2)                    48,701,373      14.00    27,832,549       8.00     34,790,687      10.00
<FN>
------------
(1)      To adjusted total assets.
(2)      To risk-weighted assets.
</FN>
</TABLE>

                                       10
<PAGE>
ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

GENERAL

     The  Company  was formed by the Bank to become the  holding  company of the
Bank following the Bank's  reorganization  to the mutual holding company form of
organization (the "Reorganization").  The Reorganization was consummated on July
8, 1998.

     The Company's net income is dependent primarily on its net interest income,
which is the difference  between interest income earned on its loan,  investment
securities  and  mortgage-backed  securities  portfolio  and  interest  paid  on
interest-bearing  liabilities.  Net  interest  income is  determined  by (i) the
difference  between yields earned on  interest-earning  assets and rates paid on
interest-bearing  liabilities  ("interest  rate  spread")  and (ii) the relative
amounts  of  interest-earning  assets  and  interest-bearing   liabilities.  The
Company's  interest  rate  spread  is  affected  by  regulatory,   economic  and
competitive  factors  that  influence  interest  rates,  loan demand and deposit
flows.  To a lesser  extent,  the  Company's  net income also is affected by the
level of other income,  which primarily consists of fees and charges, and levels
of non-interest expenses such as salaries and related expenses.

     The  operations  of the Company are  significantly  affected by  prevailing
economic  conditions,  competition  and  the  monetary,  fiscal  and  regulatory
policies of  governmental  agencies.  Lending  activities  are influenced by the
demand  for and  supply of  housing,  competition  among  lenders,  the level of
interest rates and the  availability of funds.  Deposit flows and costs of funds
are  influenced by prevailing  market rates of interest,  primarily on competing
investments, account maturities and the levels of personal income and savings in
the Company's market area.

FORWARD-LOOKING STATEMENTS

     When used in this Form 10-Q,  the words or phrases  "will  likely  result,"
"are expected to," "will continue," "is anticipated,"  "estimate,"  "project" or
similar expressions are intended to identify "forward-looking statements" within
the  meaning of the  Private  Securities  Litigation  Reform  Act of 1995.  Such
statements are subject to certain risks and  uncertainties  including changes in
economic  conditions  in the  Company's  market  area,  changes in  policies  by
regulatory  agencies,  fluctuations in interest  rates,  demand for loans in the
Company's market area, and competition that could cause actual results to differ
materially  from  historical   earnings  and  those  presently   anticipated  or
projected.  The Company wishes to caution readers not to place undue reliance on
any such forward-looking  statements,  which speak only as of the date made. The
Company  wishes to advise readers that the factors listed above could affect the
Company's financial performance and could cause the Company's actual results for
future periods to differ  materially  from any opinions or statements  expressed
with respect to future periods in any current statements.

     The Company does not undertake,  and specifically disclaims any obligation,
to  publicly  release  the  result  of any  revisions  which  may be made to any
forward-looking  statements to reflect events or circumstances after the date of
such  statements or to reflect the occurrence of  anticipated  or  unanticipated
events.

RECENT ACQUISITION

     On July 24, 2002, the Company and the Bank completed the acquisition of WHG
Bancshares  Corporation  ("WHG  Bancshares")  and its wholly  owned  subsidiary,
Heritage Savings Bank, F.S.B. ("Heritage Bank").  Stockholders of WHG Bancshares
received $14.25 per share in cash for each of the 1,285,050  outstanding  shares
of WHG  Bancshares's  common  stock.  As a result of the merger,  Heritage  Bank
merged into the Bank and its five  locations  became branch offices of the Bank.
The aggregate  purchase price was approximately  $18.3 million.  The transaction
was accounted for using the purchase method.

COMPARISON OF FINANCIAL CONDITION AT MARCH 31, 2003 AND SEPTEMBER 30, 2002

     During the six months ended March 31, 2003, the Company's  assets increased
by $41.3  million,  or 7.0% from $587.1  million at September 30, 2002 to $628.4
million at March 31, 2003. Loans receivable,  net decreased by $15.4 million, or
3.9%,  from $396.6  million at September 30, 2002 to $381.2 million at March 31,
2003. The Company's  mortgage-backed  securities available for sale increased by
$17.7  million,  or 29.3%,  from $60.4  million at  September  30, 2002 to $78.1
million at March 31, 2003.  The  Company's  mortgage-backed  securities  held to
maturity decreased by

                                       11
<PAGE>

$10.5 million or 31.2% from $33.7 million at September 30, 2002 to $23.2 million
at March  31,  2003.  The  Company's  investment  portfolio  available  for sale
increased  $55.9 million or 124.0%,  from $45.1 million at September 30, 2002 to
$101.0  million at March 31, 2003.  The Company's  investment  portfolio held to
maturity  decreased by $2.5 million or 55.5% from $4.5 million at September  30,
2002 to $2.0 million at March 31, 2003. The preceeding  was  accomplished  in an
effort to reduce interest rate risk in the balance sheet.  The bank is reluctant
to make long term low rate  loans in  today's  low  interest  rate  environment.
Emphasis  has been  placed on short term loans such as  automobile  loans,  home
equity loans and short term mortgages. The Company's deposits increased by $42.2
million, or 8.5%, from $498.8 million at September 30, 2002 to $541.0 million at
March 31, 2003. The increase in deposits was achieved  through normal  marketing
efforts and the acquisition of WHG Bancshares.  The growth in deposits helped to
fund security purchases. The security purchases have been short tem balloon type
products and adjustable mortgage products.

COMPARISON OF OPERATING RESULTS FOR THE SIX MONTHS ENDED MARCH 31, 2003 AND 2002

     Net Income. Net income increased by $687,000,  or 126.3%, from $544,000 for
the six months  ended  March 31, 2002 to $1.2  million for the six months  ended
March 31,  2003.  The  increase  in net income  was  partially  attributable  to
increased  net  interest  income,  due to an increase in the average  balance of
loans.  The  average  balance of loans  increased  $121.1  million,  from $269.6
million at March 31, 2002 to $390.7  million at March 31, 2003,  of which $116.8
million was a result of the merger with WHG  Bancshares.  The average balance of
deposits  increased  $165.8  million  from  $347.6  million at March 31, 2002 to
$513.4 million at March 31, 2003.  Increase in other income also  contributed to
the increase in net income.

     Net  Interest  Income.  Net  interest  income was $9.1  million for the six
months ended March 31,  2003,  compared to $5.9 million for the six months ended
March 31, 2002, representing an increase of $3.2 million, or 53.7%. The increase
was primarily due to the increase in the volume of interest-earning  assets. The
increase  in volume of  interest  earning  assets was  primarily a result of the
merger with WHG  Bancshares.  The Company  was able to  increase  interest  rate
spread from 2.77% at March 31, 2002, to 3.10% at March 31, 2003 due to declining
interest rates and re-pricing of deposits.

     Interest Income.  Interest income increased by $4.0 million,  or 30.6% from
$13.3  million for the six months ended March 31, 2002 to $17.3  million for the
six months  ended March 31, 2003.  Interest and fees on loans  increased by $3.8
million, or 37.5%, from $10.1 million for the six months ended March 31, 2002 to
$13.9 million for the six months ended March 31, 2003. This was primarily due to
a $121.1 million  increase in the average balance of loans receivable which more
than  offset a decrease in the  average  yield on loans of 39 basis  points from
7.51% at March 31, 2002 to 7.12% at March 31, 2003.  The increase in the average
balance of loans was primarily  attributable  to the merger with WHG  Bancshares
which  consisted  of $116.8  million in loans  receivable.  The  decrease in the
average  yield was  attributed  to the  prevailing  market rates in the economy.
Interest on mortgage-backed  securities increased by $413,000 or 25.0% from $1.7
million  for the six months  ended  March 31,  2002 to $2.1  million for the six
months ended March 31, 2003.  This increase was primarily due to the increase in
the average  balance of  mortgage-backed  securities from $59.9 million at March
31,  2002 to  $92.2  million  at March  31,  2003.  Interest  and  dividends  on
investment  securities  decreased by $225,000 or 16.1% from $1.4 million for the
six months  ended March 31, 2002 to $1.2  million for the six months ended March
31, 2003.  This was  primarily due to a decrease in the average rate received on
investments from 5.22% at March 31, 2002 to 3.78% at March 31,2003.

     Interest Expense. Interest expense, which consists of interest on deposits,
interest  on  borrowed  money and other  interest  expense  increased  from $7.3
million  for the six months  ended  March 31,  2002 to $8.2  million for the six
months ended March 31, 2003 a change of $877,000 or 11.9%.  Interest on deposits
increased  $206,000  due to an  increase  in the  average  volume of deposits by
$165.8  million from $347.6 million at March 31, 2002 to $513.4 million at March
31, 2003. The average yield on deposits decreased by 123 basis points from 4.05%
at March 31, 2002 to 2.82% at March 31,  2003.  The Company was able to increase
its  deposits  through  its  use  of  advertising  and  the  acquisition  of WHG
Bancshares.  Interest on short-term borrowings decreased by $208,000 for the six
months ended March 31, 2003, and interest on long-term  borrowings  increased by
$540,000.  This increase was primarily due to an increase of $8.8 million in the
average  balances of advances from the Federal Home Loan Bank of Atlanta  during
the quarter  ended March 31, 2003.  Also  contributing  to interest  expense was
interest on the Trust  Preferred  Securities  which was  $340,000 for the period
ending March 31, 2003.

                                       12
<PAGE>

     Average Balance Sheet. The following tables sets forth certain  information
relating to the Company's  average  balance sheet and reflects the average yield
on assets and cost of  liabilities  for the  periods  indicated  and the average
yields  earned  and rates  paid.  Such yield and costs are  derived by  dividing
income or  expense  by the  average  daily  balance  of  assets or  liabilities,
respectively,  for the period ended March 31,  2003.  The period ended March 31,
2002 average balances were computed using month-end  balances,  except for Other
Investments  which were computed using daily balances.  Total average assets are
computed using month-end balances.

     The table also presents  information for the periods indicated with respect
to the differences between the average yield earned on  interest-earning  assets
and  average  rate  paid on  interest-bearing  liabilities,  or  "interest  rate
spread," which banks have  traditionally  used as an indicator of profitability.
Another  indicator of net interest income is "net interest margin," which is its
net interest income divided by the average balance of interest-earning assets.
<TABLE>
<CAPTION>
                                                                     SIX MONTHS ENDED MARCH 31
                                               ---------------------------------------------------------------------------
                                                              2003                                     2002
                                               ---------------------------------       -----------------------------------
                                               AVERAGE                   AVERAGE       AVERAGE                     AVERAGE
                                               BALANCE      INTEREST      RATE         BALANCE       INTEREST       RATE
                                               -------      --------     ------        -------       --------      ------
                                                                           (DOLLARS IN THOUSANDS)
<S>                                            <C>          <C>              <C>       <C>           <C>              <C>
Interest-earning assets:
   Loans....................................   $ 390,781    $  13,917        7.12%     $  269,645    $ 10,119         7.51%
   Mortgage-backed securities...............      92,200        2,065        4.48          59,907       1,652         5.52
   Dividends and investment securities......      62,302        1,178        3.78          53,795       1,403         5.22
   Other Investments........................      25,355          176        1.40           8,020         105         2.62
                                               ---------    ---------                  ----------    --------
       Total interest-earning assets........     570,638       17,336        6.08         391,367      13,279         6.79
Noninterest-earning assets..................      35,647                                   22,223
                                               ---------                               ----------
       Total assets.........................   $ 606,285                               $  413,590
                                               =========                               ==========

Interest-bearing liabilities:
   Deposits.................................   $ 513,371        7,240        2.82         347,608       7,034         4.05
   FHLB Advances............................      25,667          650        5.06          16,901         319         3.77
   Trust Preferred Securities...............      12,500          340        5.44              --          --           --
   Other liabilities........................       1,548            1        0.13           1,661           1         0.12
                                               ---------    ---------                  ----------    --------
Total interest-bearing liabilities..........     553,086        8,231        2.98         366,170       7,354         4.02
                                                            ---------      ------                    --------       ------
Noninterest-bearing liabilities.............       8,040                                    4,919
                                               ---------                               ----------
       Total liabilities....................     561,126                                  371,089
Stockholders' equity .......................      45,159                                   42,501
                                               ---------                               ----------
       Total liabilities and stockholders'
            equity..........................   $ 606,285                               $  413,590
                                               =========                               ==========

Net interest income.........................                $   9,105                                $  5,925
                                                            =========                                ========
Interest rate spread........................                                 3.10%                                    2.77%
                                                                           ======                                   ======
Net interest margin.........................                                 3.19%                                    3.03%
                                                                           ======                                   ======
Ratio average interest earning assets/
    interest bearing liabilities............                               103.17%                                  106.88%
                                                                           ======                                   ======
</TABLE>

                                       13
<PAGE>
     Rate/Volume  Analysis.  The table  below  sets  forth  certain  information
regarding  changes in interest  income and interest  expense of the Bank for the
periods   indicated.   For  each   category   of   interest-earning   asset  and
interest-bearing liability,  information is provided on changes attributable to:
(i) changes in volume (changes in volume  multiplied by old rate);  (ii) changes
in rates  (change  in rate  multiplied  by old  volume);  and (iii)  changes  in
rate/volume (changes in rate multiplied by the changes in volume).
<TABLE>
<CAPTION>
                                                           FOR SIX MONTHS  ENDED MARCH 31,
                                                --------------------------------------------------
                                                        2003            VS.              2002
                                                --------------------------------------------------
                                                             INCREASE (DECREASE)
                                                                   DUE TO
                                                --------------------------------------------------
                                                                                RATE/
                                                VOLUME         RATE            VOLUME        TOTAL
                                                ------         ----            ------        -----
                                                                   (IN THOUSANDS)
<S>                                            <C>            <C>            <C>         <C>
Interest income:
  Loans receivable..........................   $  4,540       $   (512)      $   (230)   $  3,798
  Mortgage-backed securities................        893           (312)          (168)        413
  Investment securities and
      FHLB Stock............................        222           (386)           (61)       (225)
  Other interest-earning assets.............        227            (49)          (106)         72
                                               --------       --------       --------    --------
    Total interest-earning assets...........      5,882         (1,259)          (565)      4,058

Interest expense:
  Deposits..................................      3,355         (2,132)        (1,017)        206
  FHLB advances.............................        166            108             56         330
  Trust Preferred Securities................        340              0              0         340
  Other liabilities.........................          0              0              0           0
                                               --------       --------       --------    --------
     Total interest-bearing
       liabilities..........................      3,861         (2,024)          (961)        876
                                               --------       --------       --------    --------

Change in net interest income...............   $  2,021       $    765       $    396    $  3,182
                                               ========       ========       ========    ========
</TABLE>
     Provision for Loan Losses.  The Company charges  provisions for loan losses
to  earnings  to  maintain  the  total  allowance  for  loan  losses  at a level
management  considers  adequate to provide for probable  future loan losses.  In
determining the provision,  management considers prior loss experience,  current
economic  conditions and the probability of these  conditions  affecting  future
loan  performance.  The Company  established  provisions  for losses on loans of
$412,000 for the six months ended March 31, 2003, as compared to $69,000 for the
six months  ended March 31,  2002,  representing  an  increase  of $343,000  The
provision  increased  due  to  the  increased  volume  of  loans  and  increased
chargeoffs.  Loan  chargeoffs  for the six  months  ended  March  31,  2003 were
$616,000 as compared to $188,000 for the six months  ended March 31,  2002.  The
increase in loan  chargeoffs was partially due to the increased  volume of loans
and current  economic  conditions.  Loan  recoveries  were  $157,000 for the six
months ended March 31, 2003  compared to $129,000 for the six months ended March
31, 2002.  Non  performing  loans at March 31, 2003 were $750,000 as compared to
$541,000 at March 31, 2002. The total loss allowance allocated to domestic loans
is $2.1 million.  In  establishing  such  provisions,  management  considered an
analysis of the risk inherent in the loan portfolio.

     Other Income.  Other income increased by $491,000,  or 106.5% from $461,000
for the six months  ended March 31, 2002 to  $952,000  for the six months  ended
March 31,  2003.  The increase in other income for the six months ended March 31
2002 was  partially  attributable  to gains on the sale of loans of $271,000 for
the six months  ended  March 31, 2003  compared  to $109,000  for the six months
ended March 31, 2002.  . There was also a gain on the sale of  Mortgaged  Backed
Securities  of $154,000  for the six months  ended March 31, 2003  compared to a
gain of $1,000 for the six months ended March 31,  2002,  and a gain on the sale
of  investments  of $25,000 for the six months ended March 31, 2003  compared to
$17,000 for the six months  ended  March 31,  2002.  These  gains were  achieved
through the  Company's  implementation  of a strategy to mitigate  interest rate
risk.  These gains may not
                                       14
<PAGE>

be achieved in the future should market conditions  change.  Fees on transaction
accounts  increased by $55,000 due to the increase in the volume of  transaction
accounts.

     Non-interest  Expenses.  Total  non-interest  expenses  increased  by  $2.2
million,  or 41.0%, from $5.4 million for the six months ended March 31, 2002 to
$7.6  million  for  the six  months  ended  March  31,  2003.  The  increase  in
non-interest  expenses was due to increases in salaries and related  expenses of
$1.3  million,  or 46.4%.  The  increase in salaries  was  partially  due to the
increased  personnel due to the merger with WHG  Bancshares  and increased  loan
personnel as the Company  attempts to diversify into the commercial loan market.
The increase in  non-interest  expenses also was due in part to the absence of a
credit to  compensation  expense  of  $169,000  for the six months  ended  March
31,2002  for the  directors  retirement  plan due to the decline of value of the
shares held in the Rabbi-Trust.  The Company established the Rabbi-Trust to hold
shares of Company  Common Stock in connection  with the Company's  obligation to
pay deferred  compensation  under the  Directors'  Retirement  Plan. The related
deferred compensation obligation was classified as a liability and adjusted with
a  corresponding  charge (or credit) to  compensation  cost by  multiplying  the
number of shares owned by the Rabbi Trust by the change in the fair market value
of each  share,  to  reflect  changes of the amount  owed to the  directors.  No
adjustments  to  compensation  expense for the Rabbi Trust were required for the
quarter ended March 31, 2003 as a result of stockholder approval of an amendment
to the Directors' Retirement Plan at the 2002 annual meeting of stockholders.

     The  Company  also  experienced  increases  of  $355,000,  or 79.0% in data
processing  expenses,  from  $449,000 at March 31, 2002 to $804,000 at March 31,
2003.  This  increase was primarily  due to an increased  number of  transaction
accounts due to the merger with WHG Bancshares  and a rate  increase.  Occupancy
expense  increased  by  $178,000  or 29.3% from  $607,000  at March 31,  2002 to
$785,000 at March 31, 2003. The Company also experienced  increases of $160,000,
or 33.8% in property and equipment expense and an increase of $100,000, or 44.6%
in telephone,  postage and office supplies. These increases were due to the cost
of the additional branch offices acquired in the WHG Bancshares merger.

     Income Taxes.  The  Company's  income tax expense was $759,000 and $344,000
for the six months ended March 31, 2003 and 2002,  respectively.  The  Company's
effective tax rates were 38.1% and 38.7% for the six months ended March 31, 2003
and 2002, respectively.

                                       15
<PAGE>

COMPARISON  OF  OPERATING  RESULTS FOR THE THREE MONTHS ENDED MARCH 31, 2003 AND
2002

     Net Income.  Net income increased by $359,000,  or 85.2%, from $420,000 for
the three  months  ended March  31,2002 to $779,000  for the three  months ended
March 31, 2003.  The  increase in net income was  partially  attributable  to an
increase in other income and increased net interest  income,  due to an increase
in the average balance of loans.  The average balance of loans increased  $118.6
million,  from $271.1  million at March 31, 2002 to $389.7  million at March 31,
2003,  of which $116.8  million was a result of the merger with WHG  Bancshares.
The average balance of deposits increased $166.4 million from, $356.1 million at
March 31, 2002 to $522.5 million at March 31, 2003 of which $118.2 million was a
result of the merger with WHG Bancshares.

     Net Interest  Income.  Net  interest  income was $4.6 million for the three
months ended March 31, 2003, compared to $3.1 million for the three months ended
March 31, 2002, representing an increase of $1.5 million, or 49.2%. The increase
was primarily due to the increase in the volume of interest-earning  assets. The
increase in the volume of interest  earning assets was primarily a result of the
merger with WHG  Bancshares.  The company  was able to  increase  interest  rate
spread  from2.84%  at March 31, 2002 to 3.13% at March 31, 2003 due to declining
interest rates and re-pricing of deposits.

     Interest Income.  Interest income increased by $2.0 million,  or 30.8% from
$6.6  million for the three  months ended March 31, 2002 to $8.6 million for the
three months ended March 31, 2003.  Interest and fees on loans increased by $1.9
million,  or 37.8%,  from $5.0 million for the three months ended March 31, 2002
to $6.9 million for the three months  ended March 31, 2003.  This was  primarily
due to a $118.6  million  increase  in the average  balance of loans  receivable
which more than  offset a  decrease  in the  average  yield on loans of 31 basis
points from 7.40% at March 31, 2002 to 7.09% at March 31, 2003.  The increase in
the average  balance of loans was primarily  attributable to the merger with WHG
Bancshares which consisted of $116.8 million in loans  receivable.  The decrease
in the  average  yield was  attributed  to the  prevailing  market  rates in the
economy.  Interest on mortgage-backed  securities increased by $184,000 or 22.3%
from  $826,000 for the three months ended March 31, 2002 to $1.0 million for the
three months  ended March 31,  2003.  This  increase  was  primarily  due to the
increase in the average balance of mortgage-backed securities from $61.3 million
at March 31, 2002 to $91.6 million at March 31, 2003.  Interest and dividends on
investment  securities decreased by $80,000 or 10.9% from $730,000 for the three
months  ended March 31, 2002 to $650,000  for the three  months  ended March 31,
2003.  This was  primarily  due to a decrease  in the average  rate  received on
investments from 4.98% at March 31, 2002 to 3.80% at March 31,2003.

     Interest Expense. Interest expense, which consists of interest on deposits,
interest  on  borrowed  money and other  interest  expense  increased  from $3.5
million for the three  months ended March 31, 2002 to $4.0 million for the three
months ended March 31, 2003 a change of $517,000 or 14.7%.  Interest on deposits
increased  $160,000  due to an  increase  in the  average  volume of deposits by
$166.4  million from $356.0 million at March 31, 2002 to $522.5 million at March
31, 2003. The average yield on deposits decreased by 109 basis points from 3.82%
at March 31, 2002 to 2.73% at March 31,  2003.  The Company was able to increase
its  deposits  through  its  use  of  advertising  and  the  acquisition  of WHG
Bancshares. Interest on short-term borrowings decreased by $70,000 for the three
months ended March 31, 2003, and interest on long-term  borrowings  increased by
$265,000.  This increase was primarily due to an increase of $8.8 million in the
average  balances of advances from the Federal Home Loan Bank of Atlanta  during
the quarter  ended March 31, 2003.  Also  contributing  to interest  expense was
interest on the Trust  Preferred  Securities  which was  $162,000 for the period
ending March 31, 2003.

                                       16
<PAGE>
     Average Balance Sheet. The following tables sets forth certain  information
relating to the Company's  average  balance sheet and reflects the average yield
on assets and cost of  liabilities  for the  periods  indicated  and the average
yields  earned  and rates  paid.  Such yield and costs are  derived by  dividing
income or  expense  by the  average  daily  balance  of  assets or  liabilities,
respectively,  for the three months ended March 31, 2003. The three months ended
March 31, 2002 average  balances were computed using month-end  balances.  Total
average assets are computed using month-end balance.
<TABLE>
<CAPTION>
                                                                     THREE MONTHS ENDED MARCH 31,
                                               ---------------------------------------------------------------------------
                                                              2003                                     2002
                                               ---------------------------------       -----------------------------------
                                               AVERAGE                   AVERAGE       AVERAGE                     AVERAGE
                                               BALANCE      INTEREST      RATE         BALANCE       INTEREST       RATE
                                               -------      --------     ------        -------       --------      ------
                                                                           (DOLLARS IN THOUSANDS)
<S>                                            <C>          <C>              <C>       <C>           <C>              <C>
Interest-earning assets:
   Loans                                      $389,739      $ 6,909       7.09%       $ 271,124      $ 5,014        7.40%
   Mortgage-backed securities                   91,604        1,010       4.41           61,293          826        5.39
   Investment securities and FHLB stock         68,509          650       3.80           58,626          730        4.98
   Interest bearing deposits in other banks
      and Federal Funds sold                    26,374           85       1.29            9,290           46        1.98
                                              --------      -------                    --------      -------
     Total interest-earning assets             576,226        8,654       6.01          400,333        6,616        6.61
Noninterest-earning assets                      40,798                                   22,087
                                              --------                                 --------
        Total assets                          $617,024                                 $422,420
                                              ========                                 ========

Interest-bearing liabilities:
    Deposits                                  $522,503        3,565       2.73         $356,073        3,404        3.82
    FHLB Advances                               25,583          317       4.96           16,761          124        2.96
    Trust Preferred Securities                  12,500          162       5.18               --           --          --
    Other liabilities                            1,660            1        .24            1,680           --          --
                                              --------      -------                    --------      -------
Total interest-bearing liabilities             562,246        4,045       2.88          374,514        3,528        3.77
                                                            -------     ------                       -------      ------
Noninterest-bearing liabilities                  9,947                                    5,559
                                              --------                                 --------
      Total liabilities                        572,193                                  380,073
Stockholders' equity                            44,831                                   42,347
                                              --------                                 --------
   Total liabilities and stockholders'
            Equity                            $617,024                                 $422,420
                                              ========                                 ========

Net interest income                                          $4,609                                   $3,088
                                                             ======                                   ======
Interest rate spread                                                      3.13%                                     2.84%
                                                                        ======                                    ======
Net interest margin                                                       3.20%                                     3.09%
                                                                        ======                                    ======
Ratio average interest earning assets/
    interest bearing liabilities                                        102.49%                                   106.89%
                                                                        ======                                    ======
</TABLE>

                                       17
<PAGE>

     Rate/Volume  Analysis.  The table  below  sets  forth  certain  information
regarding  changes in interest  income and interest  expense of the Bank for the
periods   indicated.   For  each   category   of   interest-earning   asset  and
interest-bearing liability,  information is provided on changes attributable to:
(i) changes in volume (changes in volume  multiplied by old rate);  (ii) changes
in rates  (change  in rate  multiplied  by old  volume);  and (iii)  changes  in
rate/volume (changes in rate multiplied by the changes in volume).
<TABLE>
<CAPTION>
                                                          FOR THREE MONTHS  ENDED MARCH 31,
                                                --------------------------------------------------
                                                        2003            VS.              2002
                                                --------------------------------------------------
                                                             INCREASE (DECREASE)
                                                                   DUE TO
                                                --------------------------------------------------
                                                                                RATE/
                                                VOLUME         RATE            VOLUME        TOTAL
                                                ------         ----            ------        -----
                                                                   (IN THOUSANDS)
<S>                                            <C>            <C>            <C>         <C>
Interest income:
  Loans receivable..........................   $  2,194       $   (204)      $    (95)   $  1,895
  Mortgage-backed securities................        413           (153)           (76)        184
  Investment securities and
      FHLB Stock............................        124           (174)           (30)        (80)
  Other interest-earning assets.............         87            (17)           (31)         39
                                               --------       --------       --------    --------
    Total interest-earning assets...........      2,818           (548)          (232)      2,038

Interest expense:
  Deposits..................................      1,592           (975)          (456)        161
  FHLB advances.............................         65             84             44         193
  Trust Preferred Securities................        162              0              0         162
  Other liabilities.........................          0              1              0           1
                                               --------       --------       --------    --------
     Total interest-bearing
       liabilities..........................      1,819           (890)          (412)        517
                                               --------       --------       --------    --------

Change in net interest income...............   $    999       $    342       $    180    $  1,521
                                               ========       ========       ========    ========

</TABLE>

                                       18
<PAGE>
     Provision for Loan Losses.  The Company charges  provisions for loan losses
to earnings to maintain a total allowance for loan losses at a level  management
considers  adequate to provide for probable loan losses.  The Company  increased
the  provision for losses by $130,000 for the three months ended March 31, 2003.
This increases the loss allowance to $2.1 million, which the Company believes is
sufficient based on past experience.  Loan chargeoffs for the three months ended
March 31, 2003 were  $373,000 as compared to $81,000 for the three  months ended
March 31, 2002. The provision increased due to the increased volume of loans and
increased chargeoffs. The increase in chargeoffs was due to the increased volume
of loans and current economic  conditions.  Loan recoveries were $54,000 for the
three  months  ended March 31, 2003 as compared to $57,000 for the three  months
ended March 31, 2002.  Non  performing  loans at March 31, 2003 were $750,000 as
compared  to  $541,000  at March 31,  2002.  In  establishing  such  provisions,
management  considered  the analysis of the risk inherent in the loan  portfolio
and the increased emphasis on home equity loans,  automobile loans, and consumer
loans which entail higher credit risks than residential mortgage loans.

     Other Income.  Other income  increased by $212,000,  or 67.4% from $314,000
for the three months ended March 31, 2002 to $526,000 for the three months ended
March 31, 2003. The increase in other income for the three months ended March 31
2003 was partially attributable to gains on the sale of loans of $204,000. There
was also a gain on the sale of Mortgaged  Backed  Securities  of $84,000.  These
gains were  achieved  through  the  Company's  implementation  of a strategy  to
mitigate  interest  rate risk.  These  gains may not be  achieved  in the future
should market  conditions  change.  Fees on  transaction  accounts  increased by
$13,000.

     Non-interest  Expenses.  Total  non-interest  expenses  increased  by  $1.0
million,  or 38.2%,  from $2.7 million for the three months ended March 31, 2002
to $3.7  million for the three  months  ended March 31,  2003.  The  increase in
non-interest  expenses was due to increases in salaries and related  expenses of
$536,000,  or 37.7%.  The increase in salaries was partialy due to the increased
personnel due to the merger with WHG  Bancshares and increased loan personnel as
the Company attempts to diversify into the commercial loan market.  The increase
in  non-interest  expenses  also was due in part to the  absence  of a credit to
compensation  expense of $45,000  for the  quarter  ended March 31, 2002 for the
directors  retirement plan due to the decline of value of the shares held in the
Rabbi-Trust.  The Company  established the Rabbi-Trust to hold shares of Company
Common  Stock  in  connection  with the  Company's  obligation  to pay  deferred
compensation  under  the  Directors'   Retirement  Plan.  The  related  deferred
compensation  obligation  was  classified  as a liability  and  adjusted  with a
corresponding  charge (or credit) to compensation cost by multiplying the number
of shares  owned by the Rabbi  Trust by the change in the fair  market  value of
each  share,  to  reflect  changes  of the  amount  owed  to the  directors.  No
adjustments  to  compensation  expense for the Rabbi Trust were required for the
quarter ended March 31, 2003 as a result of stockholder approval of an amendment
to the Directors' Retirement Plan at the 2002 annual meeting of stockholders.

     The  Company  also  experienced  increases  of  $175,000,  or 80.0% in data
processing  expenses,  from  $218,000 at March 31, 2002 to $392,000 at March 31,
2003.  This  increase was primarily  due to an increased  number of  transaction
accounts due to the merger with WHG Bancshares  and a rate  increase.  Occupancy
expense  increased  by  $80,000  or 25.8%  from  $310,000  at March 31,  2002 to
$390,000 at March 31, 2003. The Company also  experienced  increases of $73,000,
or 29.5% in property and equipment expense and an increase of $48,000,  or 39.3%
in telephone,  postage and office supplies. These increases were due to the cost
of the additional branch offices acquired in the WHG Bancshares merger.

     Income Taxes.  The  Company's  income tax expense was $480,000 and $266,000
for the three months ended March 31, 2003 and 2002, respectively.  The Company's
effective  tax rates were 38.1% and 38.8% for the three  months  ended March 31,
2003 and 2002, respectively.


                                       19
<PAGE>
COMMITMENTS, CONTINGENCIES AND OFF-BALANCE SHEET RISK

     The Company is a party to financial instruments with off-balance sheet risk
including  commitments  to extend  credit  under  existing  lines of credit  and
commitments  to sell  loans.  These  instruments  involve,  to varying  degrees,
elements of credit and interest rate risk in excess of the amount  recognized in
the consolidated balance sheets.

     Off-balance  sheet financial  instruments  whose contract amounts represent
credit and interest rate risk are summarized as follows:
<TABLE>
<CAPTION>

                                                          March 31, 2003      September 30, 2002
                                                          --------------      ------------------
                                                                  (dollars in thousands)

<S>                                                           <C>                <C>
    Commitments to originate new loans                        $16,087            $12,900
    Commitments to originate new loans held for sale               --                 --
    Unfunded commitments to extend credit under existing
         equity line and commercial lines of credit            15,900             20,800
    Commercial letters of credit                                  317                431
    Commitments to sell loans held for sale                       729                 --
</TABLE>

The Company does not have any special purpose entities or other similar forms of
off-balance sheet financing arrangements.

     Commitments  to originate new loans or to extend  credit are  agreements to
lend to a customer as long as there is no violation of any condition established
in the contract.  Loan  commitments  generally expire within 30 to 45 days. Most
equity line  commitments for the unfunded portion of equity lines are for a term
of 20 years, and commercial lines of credit are generally renewable on an annual
basis.  Commitments  generally have fixed expiration dates or other  termination
clauses  and may require  payment of a fee.  Since many of the  commitments  are
expected to expire without being drawn upon, the total commitment amounts do not
necessarily  represent  future cash  requirements.  The Company  evaluates  each
customer's  creditworthiness  on a case-by-case basis. The amounts of collateral
obtained,  if deemed necessary by the Company upon extension of credit, is based
on management's credit evaluation of the borrower.

     Commitments  to sell loans held for sale are  agreements to sell loans to a
third party at an agreed upon price. At March 31, 2003, the aggregate fair value
of these commitments exceeded the book value of the loans to be sold.

CONTRACTUAL OBLIGATIONS

As of March 31, 2003
<TABLE>
<CAPTION>
                                                   Payments due by period
                                                   ----------------------
                                                  (Dollars in thousands)
                              Less than
                               1 year       1-3 years     4-5 years    Over 5 years        Total
                              ---------     ---------     ---------    ------------        -----

<S>                           <C>           <C>            <C>          <C>               <C>
Deposits                      $199,543      108,649        58,139            --           366,331
Long-term borrowings                --        6,750         9,000         9,000            24,750
Lease obligations                  751        2,193         1,106         3,325             7,375
                              --------      -------        ------        ------           -------
Total contractual cash
    obligations               $200,294      117,592        68,245        12,325           398,456
                              ========      =======        ======        ======           =======
</TABLE>

                                       20
<PAGE>

CRITICAL ACCOUNTING POLICIES

     The Company's  significant  accounting  policies are set forth in note 1 of
the consolidated  financial  statements as of September 30, 2002 which was filed
on Form 10-KSB. Of these significant  accounting policies, the Company considers
its policy  regarding  the  allowance  for loan  losses to be its most  critical
accounting policy,  because it requires management's most subjective and complex
judgments.  In addition,  changes in economic  conditions can have a significant
impact on the  allowance  for loan losses and  therefore  the provision for loan
losses and results of operations. The Company has developed appropriate policies
and  procedures  for  assessing  the adequacy of the  allowance for loan losses,
recognizing  that this process  requires a number of  assumptions  and estimates
with respect to its loan portfolio. The Company's assessments may be impacted in
future  periods by  changes in  economic  conditions,  the impact of  regulatory
examinations, and the discovery of information with respect to borrowers that is
not  known  to  management  at the  time  of the  issuance  of the  consolidated
financial statements.

ASSET QUALITY

     At  March  31,  2003,  the  Company  had  approximately   $1.1  million  in
non-performing  assets  (nonaccrual  loans,  repossessed  assets and real estate
owned) or .17% of total  assets.  At September 30, 2002,  non-performing  assets
were $1.6 million or .28% of total  assets.  At March 31, 2003 and September 30,
2002,  impaired  loans  totaled  $141,000  and $0,  respectively,  as defined by
Statement of Financial  Accounting  Standards No. 114,  "Accounting by Creditors
for Impairment of a Loan." At March 31, 2003, $ 141,000 of impaired loans was on
nonaccrual status,  and their related reserve for losses totaled $73,000.  There
was no impact on the provision as management had already  anticipated the loans'
performance  in setting the allowance for loan losses in previous  periods.  The
average carrying value of impaired loans was $68,000 during the six months ended
March 31, 2003. No interest  income has been  recorded on impaired  loans in the
six months ended March 31, 2003. The Bank's net  charge-offs  for the six months
ended March 31, 2003 were  $459,000.  The Bank's  allowance  for loan losses was
$2.1 million at March 31, 2003 and $2.2 million at September 30, 2002. The ratio
of the  allowance  for loan losses to total  loans,  net of loans in process and
deferred  loan fees  decreased  to .55% at March 31,  2003,  compared to .58% at
September 30, 2002.

     The following  table  presents an analysis of the Company's  non-performing
assets:
<TABLE>
<CAPTION>
                                                           At                     At
                                                        March 31,            September 30,
                                                          2003                   2002
                                                          ----                   ----
<S>                                                     <C>                     <C>
Nonperforming loans:
Nonaccrual loans                                        $  750                  $1,391
Loans 90 days past due and accruing
                                                            --                      --
Restructured loans                                          --                      --
                                                        ------                  ------
Total nonperforming loans                                  750                   1,391
Other non-performing assets                                365                     229
                                                        ------                  ------
Total nonperforming assets                              $1,115                  $1,620
                                                        ======                  ======

Nonperforming loans to loans receivable, net               .29%                    .35%
Nonperforming assets as a percentage
 of loans and other real estate owned                      .29%                    .41%
Nonperforming assets to total assets                       .17%                    .28%
</TABLE>

     Regulations  require  that the  Company  classify  its  assets on a regular
basis. There are three classifications for problem assets: substandard, doubtful
and loss.  The Company  regularly  reviews its assets to  determine  whether any
assets

                                       21
<PAGE>
require classification or re-classification.  At March 31, 2003, the Company had
$1.3 million in classified assets, consisting of $1.0 million in substandard and
loss loans, $0 in real estate owned and $ 365,000 in other  repossessed  assets.
At September  30,  2002,  the Company had $2.0  million in  substandard  assets,
consisting  of $1.8  million in loans,  $0 in real estate  owned and $214,000 in
other repossessed assets.

     In addition to regulatory  classifications,  the Company also classifies as
"special mention" assets that are currently  performing in accordance with their
contractual  terms but may become  classified  or  non-performing  assets in the
future. At March 31, 2003, the Company has identified approximately $2.8 million
in assets classified as special mention.

LIQUIDITY AND CAPITAL RESOURCES

     At March  31,  2003,  the Bank  exceeded  all  regulatory  minimum  capital
requirements. For information comparing the Bank's tangible, core and risk-based
capital  levels  to  the  regulatory  requirements,  see  Note  5  of  Notes  to
Consolidated Financial Statements.

     The  Company's  primary  sources of funds are deposits  and  proceeds  from
maturing investment securities and mortgage-backed  securities and principal and
interest  payments on loans.  While  maturities  and scheduled  amortization  of
mortgage-backed  securities and loans are a predictable source of funds, deposit
flows and mortgage prepayments are greatly influenced by general interest rates,
economic conditions, competition and other factors.

     The primary  investing  activities  of the Company are the  origination  of
loans and the purchase of investment securities and mortgage-backed  securities.
During the six months  ended  March 31,  2003 and 2002,  the  Company  had $27.8
million and $25.8 million,  respectively,  of loan originations.  During the six
months  ended  March  31,  2003  and  2002,  the  Company  purchased  investment
securities in the amounts of $86.6 million and $38.8 million,  respectively, and
mortgage-backed  securities in the amounts of $44.4  million and $33.5  million,
respectively. The primary financing activity of the Company is the attraction of
savings deposits.

     The Company has other  sources of  liquidity  if there is a need for funds.
The Bank has the  ability  to  obtain  advances  from  the FHLB of  Atlanta.  In
addition, the Company maintains a portion of its investments in interest-bearing
deposits at other financial institutions that will be available, if needed.

     The Bank is required to maintain minimum levels of liquid assets as defined
by OTS regulations.  This requirement,  which may be changed at the direction of
the OTS depending upon economic  conditions  and deposit flows,  is based upon a
percentage  of deposits and  short-term  borrowings.  The Bank's  average  daily
liquidity ratio for the month of March was approximately  25.30%, which exceeded
the required  level for such period.  Management  seeks to maintain a relatively
high level of liquidity in order to retain  flexibility  in terms of  investment
opportunities  and deposit pricing.  Because liquid assets generally provide for
lower rates of return,  the Bank's  relatively high liquidity will, to a certain
extent, result in lower rates of return on assets.

     The  Company's  most liquid assets are cash,  interest-bearing  deposits in
other  banks and  federal  funds  sold,  which  are  short-term,  highly  liquid
investments  with  original  maturities of less than six months that are readily
convertible  to known amounts of cash.  The levels of these assets are dependent
on the Company's operating,  financing and investing activities during any given
period.  At March 31, 2003, cash,  interest-bearing  deposits in other banks and
federal  funds  sold  were  $7.5  million,   $2.3.million   and  $11.9  million,
respectively.

     The Company  anticipates  that it will have  sufficient  funds available to
meet its current  commitments.  Certificates  of deposit  which are scheduled to
mature in less than one year at March 31, 2003 totaled $199.5 million.  Based on
past experience, management believes that a significant portion of such deposits
will remain with the Bank.  The Bank is a party to  financial  instruments  with
off-balance-sheet  risk  made in the  normal  course  of  business  to meet  the

                                       22
<PAGE>

financing  needs of its  customers.  These  financial  instruments  are  standby
letters of credit,  lines of credit and  commitments  to fund mortgage loans and
involve  to  varying  degrees  elements  of credit  risk in excess of the amount
recognized in the statement of financial position. The contract amounts of those
instruments  express the extent of involvement  the Company has in this class of
financial  instruments and represents the Company's exposure to credit loss from
nonperformance by the other party.

     The Company  generally  requires  collateral  or other  security to support
financial instruments with off-balance-sheet credit risk. At March 31, 2003, the
Company had commitments  under standby letters of credit and lines of credit and
commitments  to originate  mortgage  loans of $317,000,  $15.9 million and $16.0
million respectively.

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     Market  risk is the  possible  chance of loss from  unfavorable  changes in
market prices and rates.  These changes may result in a reduction of current and
future period net interest income, which is the favorable spread earned from the
excess of interest income on  interest-earning  assets over interest  expense on
interest-bearing liabilities.

     The Company considers  interest rate risk to be its most significant market
risk, which could  potentially  have the greatest impact on operating  earnings.
The  structure  of the  Company's  loan and  deposit  portfolios  is such that a
significant  change in interest rates may adversely impact net market values and
net interest income.

     The Company  monitors whether material changes in market risk have occurred
since September 30, 2002. The Company does not believe that any material adverse
changes in market risk exposures occurred since September 30, 2002.

ITEM 4. CONTROLS AND PROCEDURES

     Within 90 days prior to the date of this report, the Company carried out an
evaluation,  under the supervision and with the  participation  of the Company's
principal   executive   officer  and  principal   financial   officer,   of  the
effectiveness of the design and operation of the Company's  disclosure  controls
and procedures.  Based on this  evaluation,  the Company's  principal  executive
officer and principal financial officer concluded that the Company's  disclosure
controls  and  procedures  are  effective  in timely  alerting  them to material
information required to be included in the Company's periodic SEC reports.

     In addition,  and there have been no  significant  changes in the Company's
internal  controls or in other  factors  that could  significantly  affect those
controls subsequent to the date of their last evaluation.

                                       23
<PAGE>

PART II.  OTHER INFORMATION

         ITEM 1.  LEGAL PROCEEDINGS

         None.

         ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS

         None.

         ITEM 3.  DEFAULTS UPON SENIOR SECURITIES

         None.

         ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY-HOLDERS

               The Company's Annual Meeting of Stockholders was held on February
          12, 2003. 5,492,998 shares representing 93.5% of the total outstanding
          shares of the Company's  common stock were  represented  at the Annual
          Meeting in person or by proxy.

          Stockholders  voted in  favor  of the  election  of two  nominees  for
          director. The voting results for each nominee were as follows:

                                            Votes in Favor
         Nominee                            of Election           Votes Withheld
         -------                            ---------------       --------------

         Gary C. Loraditch                  5,436,060                 56,938
         William J. Kappauf Jr.             5,462,409                 30,589

          There were 0 broker nonvotes on the matter

               In addition,  stockholders  voted in favor of the ratification of
          the appointment of Anderson Associates, LLP as independent auditors of
          the Company for the fiscal year ending  September 30, 2003.  5,437,677
          votes were cast in favor of the proposal to ratify the  appointment of
          auditors,  40,531  votes were cast  against the  proposal,  and 14,790
          votes abstained. There were 0 broker non-votes on the matter.

         ITEM 5.  OTHER INFORMATION

         None.

         ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         (a)      List of Exhibits

        The following exhibit is filed herewith:

        Exhibit                   Title
        Number                    -----
        ------
        99        Certification  Pursuant to 18 U.S.C.  Section 1350,
                  as Adopted Pursuant to Section 906 of the Sarbanes-Oxley
                  Act of 2002

         (b)      Form 8-K

                  On February 19, 2003 the Company filed a Current Report on
                  Form 8-K reporting under Item 5. The Company filed an
                  amendment to that Form 8-K on February 28, 2003.


                                       24
<PAGE>
                                   SIGNATURES



     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

                                      BCSB BANKCORP, INC.



Date: May 8, 2003                   /s/ Gary C. Loraditch
                                    --------------------------------------------
                                    Gary C. Loraditch
                                    President
                                    (Principal Executive Officer)



Date: May 8, 2003                   /s/ Bonnie M. Klein
                                    --------------------------------------------
                                    Bonnie M. Klein
                                    Vice President and Treasurer
                                    (Principal Financial and Accounting Officer)


                                       25
<PAGE>

                                  CERTIFICATION


     I, Gary C. Loraditch, President of BCSB Bankcorp, Inc., certify that:

     1. I have reviewed  this  quarterly  report on Form 10-Q of BCSB  Bankcorp,
Inc.;

     2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

     3. Based on my knowledge,  the financial  statements,  and other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

     4. The  registrant's  other  certifying  officers and I are responsible for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a) Designed such disclosure controls and procedures to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others  within those  entities,  particularly  during the
period in which this quarterly report is being prepared;

     b) Evaluated the effectiveness of the registrant's  disclosure controls and
procedures  as of a date  within  90  days  prior  to the  filing  date  of this
quarterly report (the "Evaluation Date"); and

     c)  Presented  in  this  quarterly   report  our   conclusions   about  the
effectiveness of the disclosure  controls and procedures based on our evaluation
as of the Evaluation Date;

     5. The registrant's other certifying  officers and I have disclosed,  based
on our most  recent  evaluation,  to the  registrant's  auditors  and the  audit
committee of the  registrant's  board of directors  (or persons  performing  the
equivalent function):

     a) All  significant  deficiencies  in the design or  operation  of internal
controls  which  could  adversely  affect  the  registrant's  ability to record,
process,  summarize  and  report  financial  data  and have  identified  for the
registrant's auditors any material weaknesses in internal controls; and

     b) Any fraud,  whether or not material,  that involves  management or other
employees who have a significant role in the registrant's internal controls; and

     6. The registrant's other certifying  officers and I have indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: May 8, 2003

                                    /s/ Gary C.Loraditch
                                    -------------------------------------
                                    Gary C. Loraditch
                                    President
                                    (Principal Executive Officer)

                                       26
<PAGE>
                                  CERTIFICATION


     I, Bonnie M. Klein,  Vice President and Treasurer of BCSB  Bankcorp,  Inc.,
certify that:

     1. I have reviewed  this  quarterly  report on Form 10-Q of BCSB  Bankcorp,
Inc.;

     2. Based on my knowledge, this quarterly report does not contain any untrue
statement of a material fact or omit to state a material fact  necessary to make
the statements made, in light of the  circumstances  under which such statements
were made, not  misleading  with respect to the period covered by this quarterly
report;

     3. Based on my knowledge,  the financial  statements,  and other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;

     4. The  registrant's  other  certifying  officers and I are responsible for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:

     a) Designed such disclosure controls and procedures to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others  within those  entities,  particularly  during the
period in which this quarterly report is being prepared;

     b) Evaluated the effectiveness of the registrant's  disclosure controls and
procedures  as of a date  within  90  days  prior  to the  filing  date  of this
quarterly report (the "Evaluation Date"); and

     c)  Presented  in  this  quarterly   report  our   conclusions   about  the
effectiveness of the disclosure  controls and procedures based on our evaluation
as of the Evaluation Date;

     5. The registrant's other certifying  officers and I have disclosed,  based
on our most  recent  evaluation,  to the  registrant's  auditors  and the  audit
committee of the  registrant's  board of directors  (or persons  performing  the
equivalent function):

     a) All  significant  deficiencies  in the design or  operation  of internal
controls  which  could  adversely  affect  the  registrant's  ability to record,
process,  summarize  and  report  financial  data  and have  identified  for the
registrant's auditors any material weaknesses in internal controls; and

     b) Any fraud,  whether or not material,  that involves  management or other
employees who have a significant role in the registrant's internal controls; and

     6. The registrant's other certifying  officers and I have indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.

Date: May 8, 2003


                                 /s/ Bonnie M. Klein
                                 -------------------------------------
                                 Bonnie M. Klein
                                 Vice President and Treasurer
                                 (Principal Financial Officer)



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